Bitmine’s $344 Million ETH Power Move: Staking Empire Now Holds Over 908K Tokens
Another whale surfaces in Ethereum's staking ocean—and this one's making serious waves.
The Big Bet
Bitmine just dropped a cool $344 million worth of ETH into the staking pool. That's not just a vote of confidence; it's a full-blown financial declaration. The move pushes their total stake north of 908,000 tokens, cementing their position as a heavyweight in the validator arena.
Why This Stings for TradFi
While traditional finance debates yield in boardrooms, crypto's biggest players are just... acquiring yield. They're not asking for permission or waiting on dividend schedules. They're plugging capital directly into the protocol's engine and watching it work. It's capital deployment without the middleman—or the quarterly earnings call.
The Ripple Effect
Moves like this tighten ETH's available supply, a fundamental lever that doesn't get pulled in legacy markets. More staked ETH means less liquid ETH sloshing around on exchanges. It's a silent, structural bull case being built block by validated block.
One cynical take? This is what happens when 'patient capital' gets tired of waiting for its 2% bond coupon and decides to code its own dividend. Bitmine isn't just holding digital gold; they're actively forging the chains that secure the network—and getting paid in the native asset for the privilege. The old guard is still figuring out custody; the new guard is already collecting its stake rewards.
Bitmine Expands Staking Position in Ethereum
On January 8, 2026, Bitmine staked an additional 109,504 ETH valued at $344.4 million. This brings the firm’s total staked Ethereum to 908,192 ETH. Based on current market data, the total value of these staked assets is estimated at around $2.95 billion.
Bitmine (@BitMNR) has further staked 109,504 $ETH, worth $344.44M
In total, they have staked 908,192 $ETH, valued at $2.95Bhttps://t.co/1vbYSuGDkR https://t.co/XRS6pEPUkJ pic.twitter.com/5wLn0GrtTh
— Onchain Lens (@OnchainLens) January 8, 2026
Bitmine’s Ethereum staking strategy began on December 27, 2025. Within two weeks, the firm completed multiple large staking transactions, including 19,200 ETH earlier in the day on January 8, worth about $60.85 million. According to company disclosures, the latest MOVE reflects Bitmine’s long-term operational approach in the Ethereum network.
Bitmine Holds 3.43% of ETH’s Circulating Supply
Following the latest staking activity, Bitmine now controls 3.43% of Ethereum’s circulating supply. In a recent press release, Chairman Tom Lee noted that despite lower year-end activity, the firm acquired 32,977 ETH in the final week of 2025.
The company’s total ETH holdings are much higher. As of January 5, Bitmine’s Ethereum reserves stood at approximately 4,143,502 ETH. However, only a portion has been moved to staking contracts as part of the firm’s broader treasury strategy.
Industry data indicates that this makes Bitmine one of the largest non-exchange staking entities, following major platforms like Lido DAO and Coinbase. Bitmine’s actions signal continued growth in institutional Ethereum involvement.
Institutional Activity Aims to Reduce Liquid ETH Supply
Large-scale ETH staking directly reduces the volume of tokens available for trading. Once staked, the tokens are locked, subject to Ethereum’s withdrawal mechanisms. This reduces liquid supply and may help stabilize or support prices when demand rises.
Bitmine’s decision to stake over $344 million in ETH on January 8 reflects a clear strategic shift. The firm is moving from passive asset holding to active participation in Ethereum’s proof-of-stake network. This transition enables Bitmine to earn staking rewards while contributing to blockchain consensus and network security.
Public blockchain data and analysis from Onchain Lens suggest the staking transaction was completed within two hours. This shows strong operational capability and coordinated liquidity management by Bitmine’s treasury team.
ETH Staking Gains Momentum Among Large Investors
Ethereum staking yields can offer stable returns. With Bitmine’s increased involvement, it joins a growing number of institutions choosing to allocate capital into staking contracts. Bitmine’s presence as a validator may also give it increased access to protocol-level participation and data.
Other assets in Bitmine’s portfolio include 192 Bitcoin, valued at $17.3 million, and a $25 million stake in Web3 treasury platform Eightco. The firm also reported holding $915 million in cash as of January 4, 2026.
Bitmine has stated it is targeting 5% of ETH’s circulating supply, which WOULD equal around 6.04 million ETH. If the pace of accumulation continues, Bitmine may reach that figure in 2026, assuming similar acquisition and staking rates.
